INSPIRIT ENERGY HOLDINGS PLC

Regulatory Filings • Dec 11, 2014

National Storage Mechanism | Additional information

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RNS Number : 4509Z

Inspirit Energy Holdings PLC

11 December 2014

11 December 2014

Inspirit Energy Holdings plc

("Inspirit Energy", "Inspirit" or the "Company")

Barchester Healthcare Trials

Inspirit Energy is pleased to announce that an agreement has been reached with Barchester Healthcare to install a micro-CHP unit in one of its Care homes as part of the Inspirit Energy Field Trials.

Founded in 1992, Barchester Healthcare is now one of the biggest independent care providers in the UK with 17,000 staff, supporting more than 11,000 people in over 200 care homes throughout the country. Barchester Healthcare are a strong and growing organization, building 14 new homes over the last two years and embarking on a programme of updating existing homes.

Following on from initial site surveys of several Barchester Healthcare Care homes, Meadow Beck Care Home in York with 60 beds has been selected for the field trial.  The Inspirit Energy micro-CHP unit will operate at near full utilization throughout the year, thus delivering maximum benefit.  The Inspirit micro-CHP appliance will be installed to operate in tandem with the existing system to demonstrate controls integration and optimization as well as to prove the performance efficiency and the cost savings potential of the product.

Ben Collard, Energy and Environment Manager at Barchester Healthcare, commented;

"Barchester Healthcare is constantly modernising and upgrading our Care homes to include the most efficient, low carbon and renewable technologies to allow us to deliver the best care to our residents whilst delivering cost savings and carbon reductions. To this end we are happy to participate in the Inspirit Energy field trials to assess the performance and cost saving potential of this mCHP technology when installed in a Barchester Care home."

John Gunn, Inspirit Energy's CEO, comment,

"Along with the Caring homes agreement, this latest agreement with Barchester Healthcare gives Inspirit Energy a great opportunity to introduce its micro-CHP product into the Nursing home and Healthcare sector in the UK, and to demonstrate the products flexibility and cost savings potential."

About Inspirit Energy Holdings plc:

Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (micro-CHP) boiler for the commercial and residential markets. The boiler is specifically designed to meet the challenge of reduced carbon energy supply and is capable of running on natural gas, LPG and Bio Fuels. The appliance produces hot water (for tap water or central heating) and electrical output simultaneously. The installation can be of single or multiple configuration and its high operating efficiency together with the offset of electricity costs provides a very attractive investment payback proposition.

Inspirit intends to explore opportunities to licence out the underlying technology and the Directors believe that in some instances, the patents owned by Inspirit may be also used in the development of products other than a micro-CHP appliance. A prototype of the appliance has been independently tested and shown to be capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. Once development of the appliance has been completed and commercialised, the Directors expect that the appliance will initially be marketed in the UK and Europe and eventually worldwide. Additional revenue streams may be possible through product licensing, sales of warranties and further development of the product. 

For further information please contact:

Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Director	+44 (0) 207 048 9400
Jubeenh Nazhat, Director/Company Secretary	+44 (0) 207 048 9405
Westhouse Securities Limited (Nomad and Joint Broker)
Antonio Bossi / David Coaten	+44 (0) 207 601 6100
Beaufort Securities (Joint Broker)	+44(0) 207 382 8300
Jon Levinson / Saif Janjua
Public Relations:
Square1 Consulting
David Bick / Mark Longson	+44 (0) 207 929 5599

This information is provided by RNS

The company news service from the London Stock Exchange

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